Published Date: 28-Jul-2022
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According to a new report, published by KBV research, The Global Hard Tea Market size is expected to reach $9 billion by 2028, rising at a market growth of 23.7% CAGR during the forecast period.
The More than 5.1% segment is showcasing a CAGR of 26.2% during (2022 - 2028). The increasing growth of this segment is owing to the easy availability of teas with more than 5% ABV value. Moreover, this type of tea is significantly being demanded by consumers with requirement for higher alcohol concentration in their beverages. The availability of hard teas with more than 5% ABV value in various supermarkets and specialty stores is majorly driving the growth of this segment.
The Supermarket/Hypermarket segment acquired maximum revenue share in the Global Hard Tea Market by Distribution Channel in 2021, thereby, achieving a market value of $5.54 billion by 2028. Consumer preferences for liquor are shifting, and rising health concerns are fueling the segment's rise. Supermarkets have a distinct shelf dedicated to canned cocktails and other hard alternatives, making it easy for customers to purchase. Alcoholic beverages can be sold in supermarkets and hypermarkets with a license. In addition, the increased frequency of alcoholic beverage sales has increased the demand for supermarkets.
The Peach segment has shown growth rate of 24.5% during (2022 - 2028). The increasing growth of the segment is owing to the rising popularity of peach flavor among millennials. Peach-flavored cocktails are becoming increasingly popular as peaches can be fermented, squeezed, or processed in a variety of ways. These flavored beverages are very popular in the summer. Furthermore, the growing popularity of peach-flavored hard kombucha, as well as teas in various formats, is driving the growth of the hard tea market.
The North America market dominated the Global Hard Tea Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3.92 billion by 2028. The Europe market is estimated to witness a CAGR of 23.2% during (2022 - 2028). Additionally, The Asia Pacific market would experience a CAGR of 24.6% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/hard-tea-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Molson Coors Beverage Company, The Boston Beer Company, Inc., The Pabst Brewing Company (Blue Ribbon Intermediate Holdings, LLC), Two Chicks Drinks, LLC, Blue Point Brewing Company (Anheuser-Busch InBev SA/NV), Loverboy, Inc., Bold Rock Hard Cider (Craft Revolution LLC), Crook & Marker LLC, Nude Beverages, and Cisco Brewers, Inc.
By ABV (%)
By Distribution Channel
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